Well it would be nice to explore Croydon faster, but it will not work the way things are.
IMO they should be wildcatting a single hole into each anomaly, then follow up with geophys and grid drill on the most prospective. (Cap is too low at the moment for comprehensive drill programs when results are low grade)
Also, what's with the geophys survey after the drill?
The drillers are charging more than GOA can afford considering it's cap and the amount of drilling that still needs to be done. I have suggested they get their own rig but no takers. I find this surprising considering GOA fronted the cash for at least one of the rigs in PNG (supposedly earned out of reduced drilling fees).
They should not go on burning cash like they have without adding value faster than they spend. And KC's new salary and options appear munificent given share price performance to date.
GOA is one of my big disappointments so far.
GOA Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
